society
Expert Lauds CBN Handling Of Forex Challenges
Expert Lauds CBN Handling Of Forex Challenges
Financial experts have applauded the Central Bank of Nigeria (CBN) for the clearance of foreign exchange forwards owned multinational institutions in the country.
It could be recalled that the Central Bank of Nigeria (CBN), on Wednesday, took a significant move to eliminate outstanding foreign exchange liabilities by disbursing approximately $2 billion across pivotal sectors.
The key sectors include manufacturing, aviation, and petroleum, a statement said Wednesday.
This intervention which encompasses the complete clearance of liabilities for 14 banks and the initiation of settlements with foreign airlines span across manufacturing and petroleum.
However, in a chat with our Correspondent, the head, Financial Institutions Ratings at Agusto& Co, Ayokunle Olubunmi, said despite numerous economic challenges inherited from past administration, the CBN has been able to stabilise and resolve the knotty issues leading to devaluation of Naira.
According to Ayokunle, the current administration has shown commitment in putting a stop to the slide of the naira, saying the result of the CBN effort in managing the naira would soon be felt by everyone.
“There are a lot of challenges inherited from the past administration and they have resolved it to an appreciable extent but, to me they have tried, however, when you are managing an economy, there’s a lot of give and take and there are no policies you implement that don’t have downside. For instance, some schools of thought said to stop the slide of naira, there should be increase interest rate and if they do that the demand for dollar will reduce but, it will affect the economy.”
“To me, they have tried and I believe we won’t feel the impact of their efforts until they clear the FX forward and we will actually see the impact of what they have done.”
Olubunmi who chided the past CBN administration over the mishandling of the nation’s monetary policies says, the current administration is clearing the mess created for the benefit of the economy.
“They have shown huge commitment to stop the slide of naira because it is an aberration and unheard of that a sovereign country is defaulting in its obligations and unfortunately when there is low supply, there are limitations on how far the country can meet its obligations. That is one of the flaws of Emefiele’s management styles on how he issued FX when there wasn’t enough ability to meet the obligations.
” They have tried despite the significant decline in supply. They have met so much of the FX forward and the full impact of their efforts will be seen in the next couple of months.Also, at the same time, let’s wait till we see the impact let’s wait till they finish clearing the FX forward and like what I gathered they are bringing policies forwards that will help the market.”
society
Grace Nation Worldwide Celebrates Dr. Chris Okafor’s Birthday Amid Easter Reflections
“Jesus Christ is the Way, the Truth, and the Life.” — Dr. Chris Okafor
Grace Nation Worldwide marked a special occasion as members gathered at the international headquarters in Lagos, Nigeria, to celebrate the birthday of the Generational Prophet and Senior Pastor, Christopher Okafor, who turned a year older on April 4, 2026.
A Service of Thanksgiving and Celebration
The atmosphere was filled with gratitude as sons and daughters of the ministry came together to appreciate God for the life and impact of their spiritual leader.
The celebration featured a variety of activities, including special musical renditions, Bible recitations, choreography presentations, and a vibrant praise and worship session led by the Liberation Voices.
The highlight of the event was the ceremonial cutting of the birthday cake, followed by joyful celebration and thanksgiving, all dedicated to the glory of God.
Teaching on the Death and Resurrection of Christ ,Earlier in the day, the service also commemorated the resurrection of Jesus Christ, with Dr. Okafor delivering a message on “The Death and Resurrection of Jesus Christ.”
In his teaching, he described the sacrifice of Christ at Calvary as the foundation of the Christian faith.
“The death of Jesus represents the depth of God’s love for humanity,” he said, while emphasizing that the resurrection is the ultimate confirmation and strength of the believer’s faith.
The State of Humanity Before Redemption
Dr. Okafor explained that before the sacrifice of Christ, humanity was bound by sin, subject to judgment, and separated from God. He highlighted the consequences of the fall of man, including spiritual loss and the inevitability of judgment.
The Purpose of Christ’s Sacrifice
According to the cleric, the death and resurrection of Jesus Christ brought restoration and reconciliation between God and humanity.
“When a person is restored to God, life becomes meaningful,” he noted, adding that the sacrifice of Christ signifies the forgiveness of sin and a new beginning for believers.
A Message of Hope
In conclusion, Dr. Okafor stated that the resurrection of Jesus Christ provides believers with the opportunity to live a fruitful and abundant life, anchored in faith and divine purpose.
The combined celebration of his birthday and the message of Easter created a moment of reflection, joy, and renewed commitment among members of Grace Nation Worldwide.
society
IGP Disu Unveils New Security Vehicles, Bikes In Ogun
IGP Disu Unveils New Security Vehicles, Bikes In Ogun,
The Inspector-General of Police, Olatunji Rilwan Disu, on Saturday took centre stage at the commissioning of landmark projects in Ogun State, reaffirming the Nigeria Police Force’s commitment to strengthening national security and deepening collaboration with state authorities.
The high-profile event, attended by top government officials and security stakeholders, highlighted the strategic importance of security in driving development. Disu’s presence underscored ongoing efforts by the Police leadership to align operational priorities with infrastructural growth across the country.
A key highlight of the ceremony was the commissioning of new security vehicles and electric motorbikes aimed at boosting the operational capacity of security agencies in the state. The IGP commended the Ogun State Government for what he described as a proactive and forward-thinking approach to security, noting that the newly deployed assets would significantly enhance rapid response and patrol efficiency.
He stressed that effective policing remains central to maintaining peace and order, assuring residents that the Force would continue to evolve strategies to tackle emerging threats. According to him, the Nigeria Police Force is committed to working closely with both the Federal Government and sub-national authorities to ensure the safety of lives and property.
Disu further called on members of the public to support security agencies by providing timely and credible information, describing community cooperation as vital in combating crime and sustaining a secure environment.
The Police leadership also expressed appreciation to the Ogun State Government and other dignitaries for their continued partnership, noting that such collaboration is essential to advancing security initiatives and fostering national development.
society
PDP Stalwart, Fagbemi, Resigns From Party in Ogbomoso South
*PDP Stalwart, Fagbemi, Resigns From Party in Ogbomoso South*
A former Secretary of Ogbomoso South Local Government, Temidayo Fagbemi, has formally resigned his membership of the Peoples Democratic Party.
Fagbemi, a major financier of the PDP in the area, tendered his resignation in a letter addressed to the Ward Chairman of the party in Ijeru II, Ogbomoso South.
In his letter, Fagbemi stated that leaving the party he had diligently supported, contributing to PDP’s victories at both the state and local government levels for two consecutive terms, was a difficult but necessary decision.
He wrote: “I, Temidayo Fagbemi, hereby submit my resignation as a member of the PDP.”
“My decision to leave the party, which I worked hard to support and helped secure victory at both the state and local levels for two consecutive terms, is not an easy one. However, it has become necessary.”
He thanked party leaders for the years of shared political engagement and wished them success in their forthcoming primaries.
His resignation marks a significant development within the Ogbomoso South PDP, given his influence, contributions, and long-standing role in strengthening the party’s structure.
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